Guideline Value for Akash Nagar II

Akash Nagar II guideline value

The current guideline value of Akash Nagar II is Rs 1,210 per sq.ft. This area is located in Thandalam village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Akash Nagar II has changed

The guideline value for Akash Nagar II has seen several revisions over the years. The 2017 revision recorded a guideline value of Rs 737 per sq.ft. This increased significantly to Rs 1,100 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,210 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, the guideline value has increased by 64% from the 2017 revision to the 2024 revision.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, which is equal to the current guideline value of Akash Nagar II.

• Akash Nagar I: Rs 1,210 per sq.ft (2024)
• Akash Nagar Thodarchi: Rs 1,210 per sq.ft (2024)
• Akash Nagar Aennex: Rs 1,210 per sq.ft (2024)
• Akash Nagar: Rs 1,210 per sq.ft (2024)
• Aishwaryam Garden: Rs 1,650 per sq.ft (2024)
• Alayam Phase - III: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Akash Nagar II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, while the registration fee at 2% would be Rs 24,200. Together, the total cost for stamp duty and registration would be Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Akash Nagar II?

The Akash Nagar II area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Thandalam

The guideline value plays a crucial role during property registration in Thandalam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure they are prepared for the associated costs.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Akash Nagar II?

The current guideline value of Akash Nagar II is Rs 1,210 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current rate. The value rose from Rs 737 per sq.ft in 2017 to Rs 1,210 per sq.ft in 2024.

What is the land classification of Akash Nagar II?

Akash Nagar II is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Akash Nagar II?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 12,10,000, the total fees would amount to Rs 1,08,900.

Which office handles registrations for Akash Nagar II?

The Pammal Sub Registrar Office is responsible for handling registrations in Akash Nagar II, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.